Midtown Manhattan is home to the two tallest residential buildings in New York City, with JDS Development Group bringing a third to the neighborhood. The skyscraper at 111 West 57th Street being incorporated into the 16-story Steinway Hall is adding a competitive edge to the area as it joins a growing market for high-end condos in the sky. This boom is of great interest to global investors, with New York City ranking number one on the list of cities that attract interest from high-net-worth individuals.

The penthouse of Chelsea’s Walker Tower recently went under contract, breaking a record for the area. Co-developer JDS Development’s managing partner Michael Stern said the sale was finalized for just “a hair under” the asking price of $55 million, making it the most expensive residential sale in downtown Manhattan to date. The massive, 5,955-square-foot, full-floor condominium boasts three fireplaces, five bedrooms, five bathrooms, and expansive 360-degree views. Of this historic sale, Stern says, “It’s yet another vindication by the market of the incredible quality of this building.” Manhattan’s skyward ascension is showing no sign of slowing down.